The new Texas Stock Exchange opened in Dallas Monday, aiming to rival Wall Street by creating Texas' new Y'all Street.
What is the Texas Stock Exchange (TXSE)?
The TXSE is the first and only national securities exchange built, headquartered and incorporated in Texas. TXSE is backed by some of the largest financial institutions and liquidity providers in the world, serving U.S.-based and international-based issuers, investors and market participants.
What are people saying?
- Dallas Mayor Eric Johnson: "Y’all Street is the future of the financial services sector, and @TXStockExchange has a pivotal role in that future and will further strengthen Dallas’s position as the nation’s leading destination for investment, innovation, and economic opportunity."
President Trump rang the New York Stock Exchange bell in the oval office as the TXSE opened in Dallas. The first listing was Trump's Media and Technology Group.
Creating a new financial hub in the southeastern quadrant (seQ), will further develop the region as an economic powerhouse of the U.S.
"Y’all Street is the future of the financial services sector, and @TXStockExchange has a pivotal role in that future and will further strengthen Dallas’s position as the nation’s leading destination for investment, innovation, and economic opportunity," wrote Johnson on X.
The seQ, known as the "Boom Belt", contains eleven states in the southeastern United States. The states are known for their low taxes and business-friendly policies, making them a favorable place for businesses to move.
One in ten public companies in the U.S. call Texas home and Texas has the eight largest economy in the world.
With the opening, banks and trading firms began testing the system and stocks will be added to the exchange in the following weeks as the system rolls out in Texas.
